Published by Persistence MarketResearch
Posted on September 28, 2021
Persistence Market Research (PMR), delivers key insights on the high purity alumina (HPA) market in its latest report titled “Global Market Study on High Purity Alumina (HPA): High Demand for LED’s and Displays to Drive Growth During 2015-2021.” According to the report, the global HPA market was valued at US$ 1.2 Bn in 2014 and is projected to expand at a CAGR of 6.9% during the forecast period to reach US$ 3.6 Bn by the end of 2021.
High purity alumina or HPA is a high-end product of the non-metallurgical alumina market. It is a high-value product that serves as a base material for the manufacture of sapphire substrates used in various applications such as scratch-resistant artificial sapphire glass, light emitting diodes (LEDs), and semiconductor wafers.
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Manufacture of synthetic single crystal sapphires (used as a base substrate for manufacturing LEDs) is a major application of HPA. LEDs are used in traffic lights, LED-backlit LCDs, backlights in electronics, and general lighting products. According to PMRs market assessment, global packaged LED production is witnessing a significant annual growth rate of 9%-11%.
This is expected to drive demand for HPA, considering that it finds major application in the manufacture of LEDs. Hence, the LED application segment is expected to expand at a CAGR of 18% during the forecast period. The HPA market in China is projected to exhibit the fastest growth during the forecast period, owing to a favorable economic environment and the need for technological advancements in electronics products such as mobile phones and cameras.
From a regional perspective, Asia-Pacific was the largest market for HPA in 2014, accounting for approximately 60% volume share of the overall market. North America ranked second, accounting for over 13% market share followed by Europe in 2014, and is forecast to expand at a CAGR of 16.7% and 15.6% respectively, during the forecast period. This growth is attributed to the positive outlook of the economy in Western Europe.
Speak To Research Analyst For Detailed Insights – https://www.persistencemarketresearch.com/ask-an-expert/3582
The global HPA market is segmented on the basis of product, application, and region. By product, the market is categorized as 4N, 5N, and 6N. On the basis of application, the market is categorized as LED, semiconductor, phosphorus, and others. Key regions covered in this report include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
By product type, 4N HPA was the largest segment in 2014, accounting for 54.1% volume share of the overall market. This segment dominates the market in 2015 and is expected to continue to do so during the forecast period.
Key factors driving the market include rising demand for LED lighting and displays, wider application in smartphones, and government support for the production of HPA products. However, increasing purchase and associated costs of HPA may hinder market growth in coming years. Major trends witnessed in this market include the manufacture of HPA from aluminum waste and increasing focus on R&D to deliver product customization.
GAIN COMPLETE ACCESS TO THE REPORT – https://www.persistencemarketresearch.com/checkout/3582
Key market participants covered in the report include:
Want to Know More?
Persistence Market Research has published a market research report on the high purity alumina market that contains global industry analysis of 2015–2019 and forecasts for 2020–2030. The report provides insightful analysis of the high purity alumina market through different segments – product, application, and region. The high purity alumina market report also provides supply and demand trends, a comprehensive list of suppliers and distributors in the market, and a detailed overview of the value chain.
Get similar report for Reference @ https://www.prnewswire.com/news-releases/high-purity-alumina-market-estimated-to-expand-at-a-cagr-of-12-5-over-the-forecast-period-of-2020-to-2030—persistence-market-research-301186459.html
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The post High Purity Alumina Market is projected to expand at a CAGR of 6.9% during the forecast period 2015-2021 appeared first on Lake Shore Gazette.
Persistence Market Research (PMR), delivers key insights on the high purity alumina (HPA) market in its latest report titled “Global Market Study on High Purity Alumina (HPA): High Demand for LED’s and Displays to Drive Growth During 2015-2021.” According to the report, the global HPA market was valued at US$ 1.2 Bn in 2014 and is projected to expand at a CAGR of 6.9% during the forecast period to reach US$ 3.6 Bn by the end of 2021.
High purity alumina or HPA is a high-end product of the non-metallurgical alumina market. It is a high-value product that serves as a base material for the manufacture of sapphire substrates used in various applications such as scratch-resistant artificial sapphire glass, light emitting diodes (LEDs), and semiconductor wafers.
Request For Report Sample@ https://www.persistencemarketresearch.com/samples/3582
Manufacture of synthetic single crystal sapphires (used as a base substrate for manufacturing LEDs) is a major application of HPA. LEDs are used in traffic lights, LED-backlit LCDs, backlights in electronics, and general lighting products. According to PMRs market assessment, global packaged LED production is witnessing a significant annual growth rate of 9%-11%.
This is expected to drive demand for HPA, considering that it finds major application in the manufacture of LEDs. Hence, the LED application segment is expected to expand at a CAGR of 18% during the forecast period. The HPA market in China is projected to exhibit the fastest growth during the forecast period, owing to a favorable economic environment and the need for technological advancements in electronics products such as mobile phones and cameras.
From a regional perspective, Asia-Pacific was the largest market for HPA in 2014, accounting for approximately 60% volume share of the overall market. North America ranked second, accounting for over 13% market share followed by Europe in 2014, and is forecast to expand at a CAGR of 16.7% and 15.6% respectively, during the forecast period. This growth is attributed to the positive outlook of the economy in Western Europe.
Speak To Research Analyst For Detailed Insights – https://www.persistencemarketresearch.com/ask-an-expert/3582
The global HPA market is segmented on the basis of product, application, and region. By product, the market is categorized as 4N, 5N, and 6N. On the basis of application, the market is categorized as LED, semiconductor, phosphorus, and others. Key regions covered in this report include North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
By product type, 4N HPA was the largest segment in 2014, accounting for 54.1% volume share of the overall market. This segment dominates the market in 2015 and is expected to continue to do so during the forecast period.
Key factors driving the market include rising demand for LED lighting and displays, wider application in smartphones, and government support for the production of HPA products. However, increasing purchase and associated costs of HPA may hinder market growth in coming years. Major trends witnessed in this market include the manufacture of HPA from aluminum waste and increasing focus on R&D to deliver product customization.
GAIN COMPLETE ACCESS TO THE REPORT – https://www.persistencemarketresearch.com/checkout/3582
Key market participants covered in the report include:
Want to Know More?
Persistence Market Research has published a market research report on the high purity alumina market that contains global industry analysis of 2015–2019 and forecasts for 2020–2030. The report provides insightful analysis of the high purity alumina market through different segments – product, application, and region. The high purity alumina market report also provides supply and demand trends, a comprehensive list of suppliers and distributors in the market, and a detailed overview of the value chain.
Get similar report for Reference @ https://www.prnewswire.com/news-releases/high-purity-alumina-market-estimated-to-expand-at-a-cagr-of-12-5-over-the-forecast-period-of-2020-to-2030—persistence-market-research-301186459.html
Related Reports:
Optical Brighteners Market: Optical Brighteners Market Segmented By Stilbene, Coumarin, Diphenyl Pyrazoline Product in Detergents, Textiles, Papers, Cosmetics, Plastics
Dioctyl Fumarate Market: Dioctyl Fumarate Market Segmented By More and Less than 99% in Chemical Manufacturing, Paint and Coating, Adhesives, Lubricants, Cosmetics Application
High Purity Quartz Market: High Purity Quartz Market Segmented By HPQ Powder, Grade I, Grade II, Grade III in Semiconductor, Solar, Lighting, Telecom and Optics, Microelectronics
About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
The post High Purity Alumina Market is projected to expand at a CAGR of 6.9% during the forecast period 2015-2021 appeared first on Lake Shore Gazette.
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